Third Harmonic Bio pops after IPO upsize

Third Harmonic Bio

15/09/2022 16:41

** Third Harmonic Bio Inc  THRD.O  jumps on debut on Thurs
after allergy/inflammatory disease specialist raises more equity
than targeted
    ** THRD opens at $20.50 vs $17 IPO price, valuing co at
nearly $800 mln. Stock last up 22.3% at $20.79
    ** Co sells 10.9 mln shares a midpoint of $16-$18 filed
range, raises $185.3 mln  urn:newsml:reuters.com:*:nGNX9wyvP7
    ** IPO size boosted from 9 mln shares
    ** Co to use net proceeds to fund clinical development for
lead drug, THB001, to treat urticaria (form of hives) and asthma
(See securities filing https://www.sec.gov/Archives/edgar/data/1923840/000119312522240397/d319294ds1a.htm)
    ** Morgan Stanley, Jefferies and Cowen jt bookrunners for
the offering

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))